If you don't want to put a single dollar down then you can just structure a 100% financing with the sellerHey Ko, it’s nice see you again.I’ve spoken with the seller and they want a 10% down.I think I’m going to wholesale this deal if I can get good terms, but every once in a while I come across a good deal that I would like to purchase as a buy and hold.what type of loans would you recommend for traditional buy and hold? 

I flipped and did some buy and hold when I lived in Florida.   

I question if they get kick backs or actually hold ownership in this company.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Holding this for 1 month (hoping that's enough to refi) that's $5k.So my aim is to save money overall by making a cash offer and close it soon.

Be sure to hold a hefty reserve to handle on-going maintenance, capex, taxes, and insurance.

One that holds a special place in my heart is Tractionby Gino Wickman.

As for the areas to target, my goal in getting our feet wet as real estate investors--and since we plan to be living in Sac--is to find a property we can live in while renting out one or more units to help cover our housing expenses, which we can then hold and continue to rent out when we move.

If you're goal is a long term hold, you're almost certainly going to do well even with a market rate deal in any of those states.

You want to be able to demonstrate that your intent in purchasing, subdividing, and improving was to hold for investment use.